Pacific Life Insurance

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Pacific Life is one of the oldest insurance providers we looked at, having been established in 1868. Pacific was formed in Sacramento, California, but its current headquarters are in Omaha, Nebraska. Its primary office is now in Nebraska, although the company still has a Newport Beach location. The total amount of insurance covered by the company’s policies is $1.2 trillion.

You can get insurance from Pacific Life by contacting a local agent or broker.

Reasons Why

  • Extremely happy customers: Customers are generally satisfied, and complaints are uncommon, at Pacific Life. We found that, relative to its size, Pacific Life had the second-fewest complaints among the 91 life insurance firms we looked at over the course of three years. It should come as no surprise, then, that the company ranked sixth in the customer satisfaction category in J.D. Power’s 2022 U.S. Individual Life Insurance Study.
  • Cheap term coverage: To find the best prices on term life insurance, we compared quotations from 32 different insurers for healthy applicants of varying ages. Our research showed that Pacific Life offered the second-lowest quotations overall, trailing only Protective and Banner for the cheapest coverage among the top term life insurance providers.
    Information about policies are online: For information on policies from some life insurers, a phone call to an agent is necessary. However, Pacific Life’s website allows you to independently investigate product details through detailed descriptions and downloadable manuals. The product availability in your state is also displayed when you select your state. Know that this degree of openness is unusual if you value independently conducting research.
  • Insurance is available for those above the age of 90: Of the 91 insurance providers we looked at, only six, including Pacific Life, provide life insurance to those beyond the age of 90.


  • No online quote: Although Pacific Life does not provide online quotations directly to consumers, they are available via a variety of internet life insurance brokers.
  • You need a broker in order to apply: Contact a Pacific Life agent if you’re interested in purchasing term life insurance or any other form of policy. Even though online applications are still not the norm, they do happen. Only one-third of the providers they looked at have an online application for insurance.

According to the Complaint Index, out of the 91 firms we looked at, Pacific Life had the second-fewest client complaints, and out of the 25 largest life insurance companies in the country, it had the fewest. We consulted the National Association of Insurance Commissioners’ (NAIC) complaint index, which ranks businesses by the number of complaints received in relation to their size, to obtain a sense of the industry as a whole.

A complaint index of 1.0 indicates that an organization has received the typical number of customer complaints. If the index is less than 1, then the number of complaints received by the company was less than expected, and if it is larger than 1, then the number of complaints received was greater than expected. The complaint index for Pacific Life is nearly zero (0.04), indicating an extremely low rate of customer dissatisfaction.

External Evaluations

Pacific, several objective metrics used to evaluate quality of life are positive for life.

AM Best gave the business the highest possible financial strength rating. The A+ rating from the credit rating agency is evidence of a reliable track record of paying premiums on time. This is AM Best’s second-highest grade, after A++, and it denotes a “superior” capacity to pay claims.

Customer service is another area in which Pacific Life excels. It scored 793/1000 on J.D. Power’s customer satisfaction survey, putting it in fourth place overall and 46 points behind market leader State Farm.


Items Nationwide Pacific Life MassMutual
Types of Coverage Term, whole life, UL, IUL, VUL, final expense Term, whole life, UL, IUL, VUL Term, whole life, UL, VUL
Dividends for 2022 Not applicable Not applicable Nearly $1.85 billion
Online Application Yes No Yes
AM Best Rating A+ A+ A++
Price for Term Policies Average Excellent Better than average
NAIC Complaint Index (3-year average) 0.07 0.04 0.133
J.D. Power Ranking 6 5 9

Pacific Life offers a wide variety of insurance plans. You can get an appropriate insurance policy here even if you have no idea what kind you need. Please be aware that if you are 50 or younger, you may be eligible for up to $5,000,000 in coverage on virtually any Pacific Life insurance policy. Between the ages of 51 and 60, you may be eligible for a $3 million loan.

Term Life Insurance

Term life insurance is a short-term form of protection, usually lasting between ten and thirty years. In the event of your untimely demise during that period, your heirs will get the death benefit. Although term policies don’t accumulate value, some allow you to switch to permanent insurance if certain conditions are met. After the first year, they can usually be renewed (at a greater cost) for an additional year.

Pacific Elite Term: This insurance is convertible for up to 10 years after issuance and is offered for 10, 20, and 30 year terms. A rider protecting against terminal disease is included at no extra cost.

PL Promise Term: This policy has term lengths of 10, 15, 20, 25, and 30 years, and it can be changed to permanent coverage at any moment throughout the term.

Whole Life Insurance

Whole life insurance, also known as cash-value insurance, is a permanent form of coverage that is meant to last a person’s entire lifetime, in contrast to term coverage. Although whole life insurance is in Pacific Life’s product list, the company does not appear to be selling policies in any state at this time.

Universal Life Insurance

Another form of perpetual coverage or cash-value life insurance is universal life (UL) insurance. Premiums and death benefits can be adjusted, and the cash value can grow based on prevailing interest rates. In contrast to whole life policies, UL policies are more likely to lapse in their later years.

Those interested in purchasing a Versa-Flex Venture VUL policy have until they turn 90 to do so. You can prevent the coverage from expiring for four to twenty years (depending on your age) by paying the required premium. (For a higher price, you can have permanent coverage with no risk of it ever lapse.)

The PL Promise GUL comes with a free lifetime no-lapse guarantee rider. In the event that interest rates don’t perform as expected and your cash worth isn’t adequate to pay policy costs, this safeguards your death benefit for life.

Variable Life Insurance

The cash value of a universal life policy can be invested in the stock market through variable universal life (VUL) subaccounts, which function similarly to mutual funds. The cash value of a variable life insurance policy might decrease if the underlying assets perform poorly, making it the most high-risk form of life insurance. Anyone over the age of 90 can apply for a VUL policy from PacLife.

You can diversify your investments with the Pacific Select VUL II‘s variable, indexed, and fixed accounts.
Pacific Select Harbor Variable Universal Life Insurance: Many investment choices, no index accounts.
In addition to indexed accounts, Pacific Admiral VUL also provides access to low-cost investing solutions.

Indexed Universal Life Insurance

Cash value growth in IUL policies tracks the performance of a stock market index like the S&P 500, making them a sort of universal life insurance. The cash value is guaranteed and will never decrease due to fluctuations in the market. IUL policies are complicated, but they pose less of a risk than VUL insurance. If the cash value is not adequate to pay for the costs associated with maintaining the policy, the cash value will still be at risk.

Pacific Life provides a wide variety of IUL plans:

Simple IUL policy with three indexed accounts and a small range of riders; Pacific Horizon IUL does not include “performance factors,” which can boost the interest added to the cash value.
Minimum cash surrender value and minimum interest rate guarantees protect the cash value of a Pacific Trident IUL.
Optional performance variables can boost the cash value credit on the Pacific Discovery Xelerator IUL 2 for an extra premium.
The Pacific Indexed Accumulator 6 provides high cash surrender values and performance elements in the early policy years.
The Pacific Indexed Estate Preserver 3 is a joint and survivor variable universal life insurance policy.

Available Riders

Your life insurance policy’s coverage and benefits may be enhanced by adding a rider. Pacific Life’s riders include the following:

  • In the event that you have a chronic illness that prevents you from performing at least two ADLs, you may be eligible to receive monthly or annual payments equal to the full death benefit (up to $3 million).
  • The terminal illness benefit allows for up to 75% of the death benefit to be paid out early in the event of a terminal illness diagnosis.
  • The Premier Care policy from Pacific Life is a type of universal life insurance that includes long-term care coverage as a rider. Long-term care costs can be compensated for two to eight years, depending on individual circumstances, and inflation protection can raise the monthly benefit amount.
  • Death benefit rider in case of an accident: If the insured dies as a result of an accident, they will receive an additional death benefit.
  • Add up to $10,000 in coverage for each child age 15 days to 18 years old with a children’s level term insurance rider.
  • With a guaranteed insurability (GI) rider, you can enhance your death benefit at predetermined ages or after the occurrence of certain events without undergoing a medical exam or submitting a new application for insurance. The average age of death for a GI rider is 45.
  • Policy premiums are eliminated after a 180-day waiting period if you become disabled before age 65 and purchase the disability waiver of premium rider.

Customer Service

Pacific Life’s life insurance customer support line is open from 6 a.m. to 5 p.m. PST, Monday through Friday at (800) 347-7787. You may also submit a contact form with your name, email address, and query details. Within the next two days, you should hear back from us.


We found that Pacific Life’s term insurance policies were among the least expensive among the 32 firms we looked at. We gathered price information for $250,000 30 year term insurance contracts for men and women in perfect health ages 25, 40, and 55. Pacific Life’s term policies were the second-cheapest after Protective and Banner’s policies. One of the company’s very affordable term policies may be worth considering even if you aren’t specifically searching for term coverage.

Should I Get Pacific Life Insurance?

Pacific Life is a reliable, long-standing life insurance provider with a history of satisfied policyholders. As scholars, we are grateful for the abundance of resources on the internet that pertain to specific policies. If any of these qualities sound good to you, you should be able to locate a policy from Pacific Life that suits your needs. If you’re searching for low-cost or no-exam life insurance and don’t mind going via an agent to get a quotation and apply, this is a great option to consider. Pacific Life offers up to five individual universal life (IUL) plans, each with its own set of benefits and target demographics, so it’s worth looking into if you’re in the market for an IUL.

However, if you insist on a whole life policy, Pacific Life may not provide any in your state. Neither last expenditure nor burial insurance are provided by the company.

Methods Used in Evaluating Life Insurance Providers

Quantitative analysis of each insurer’s stability and reliability, customer service, claims experience, product variety, and cost forms the basis of our life insurance company assessments. The coverage amounts, possible riders, and premium payment schedules of each policy type are compared to those of other major life insurance providers. Finally, we consider the company’s reputation and trustworthiness in light of independent agencies’ evaluations.

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